In an active week for acting director Mick Mulvaney at the Consumer Financial Protection Bureau (CFPB), the CFPB announced that it would not seek additional funding from the Federal Reserve to operate in the second quarter of fiscal 2018.
That move came because Mulvaney determined the CFPB would need $145 million to meet its demands in the quarter, and the CFPB has more than $177 million in what Mulvaney termed a “reserve fund” at the Fed.
Read on for more about the request from Mulvaney, the CFPB’s account with the Fed, and reaction from Capitol Hill.
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